Background*

Dr. Carl Spana, Ph.D., is the Co-Founder of Palatin Technologies Inc and has been its Chief Executive Officer and President since June 14, 2000. From June 1996 to June 14, 2000, Dr. Spana served as an Chief Technical Officer and Executive Vice President of Palatin Technologies Inc. From June 1993 to June 1996, he served as Vice President of Paramount Capital Investments, LLC, a biotechnology and biopharmaceutical merchant banking firm, and of Castle Group Ltd., a medical ... venture capital firm. At Paramount Capital Investments and at Castle Group, Dr. Spana was responsible for discovering, evaluating, and commercializing biotechnologies. Through his work at Paramount Capital Investments and Castle Group, he co-founded and acquired several private biotechnology firms. He served as AVAX Technologies, Inc.'s interim President from August 1995 to June 15, 1996. He served as an Chief Technology Officer and Executive Vice President of Rhomed Incorporated. From July 1991 to June 1993, he served as a Research Associate at Bristol-Myers Squibb, a publicly traded pharmaceutical company, where he was involved in scientific research in the field of immunology. Dr. Spana has been a Director of Palatin Technologies Inc since June 1996. He has been a Director of RhoMed Incorporated, a wholly-owned subsidiary of Palatin Technologies Inc since July 1995. He has been a Director of Curalogic A/S since 2005. Dr. Spana has been a Director of AVAX Technologies, Inc since September 1995. Dr. Spana received his Ph.D. in Molecular Biology from The Johns Hopkins University and his B.S. in Biochemistry from Rutgers University.

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